PepsiCo has reported its financial results for the first quarter of 2026, with increases in revenue, operating profit and earnings per share, alongside continued growth across its North America and international businesses.

Net revenue increased by 8.5% during the quarter, reflecting a 3.4-percentage-point benefit from foreign exchange translation, 2.6% organic revenue growth and a 2.5-percentage-point net benefit from acquisitions and divestitures. The company said organic revenue growth was driven by effective net pricing and a slight contribution from organic volume growth.

“We are pleased with our first-quarter results, which featured an acceleration in both net revenue and organic revenue growth – with a notable improvement in convenient foods organic volume,” said Ramon Laguarta, Chairman and CEO of PepsiCo.

In North America, PepsiCo said both its foods and beverages businesses delivered a sequential acceleration in reported net revenue and organic revenue growth. The foods segment recorded volume growth, supported by innovation and affordability initiatives, while beverage volumes also improved sequentially and compared with the prior year.

The company reported that its international businesses delivered a sequential acceleration in net revenue growth across all segments. Organic revenue growth was supported by performance in Asia Pacific Foods; Europe, Middle East and Africa; and the International Beverages Franchise, while Latin America Foods remained resilient.

“We are encouraged with the resilience of the International business while North America continued to make progress in the first quarter,” Laguarta said.

Operating profit increased by 24% in the quarter, while operating margin expanded by 210 basis points. Core operating profit rose by 9%, with the company attributing the increase primarily to productivity savings, net revenue growth and a four-percentage-point benefit from foreign exchange translation, partially offset by certain operating cost increases.

Earnings per share increased by 27%, while core earnings per share rose by 9%, primarily reflecting the increase in operating profit.

Looking ahead, PepsiCo said it is maintaining its financial outlook for the year.

“Therefore, we are affirming fiscal 2026 financial guidance and expected cash returns to shareholders – including the previously announced 4 percent increase in the annualized dividend per share beginning with the June 2026 payment, which will represent our 54th consecutive annual increase,” Laguarta said.